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John Heinz Net Worth

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John Heinz
Photo: United States Senate · Wikimedia Commons · Public domain
Estimated net worth

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Quick facts

Born1938

ProfessionPolitician

NationalityAmerican

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Background and career

Henry John Heinz III (October 23, 1938 – April 4, 1991) was an American businessman and politician who served as a United States senator from Pennsylvania from 1977 until his death in 1991. An heir to the Heinz family fortune, Heinz entered politics in 1971 when he won a special election to replace Robert Corbett to represent Pennsylvania's 18th congressional district. In 1976, Heinz ran to replace retiring Senate Minority Leader Hugh Scott. Heinz narrowly won in the Republican primary over future Senator Arlen Specter and defeated William Green III in the general election. Heinz won re-election in 1982 and 1988 by large margins. On April 4, 1991, Heinz was killed when his plane, facing mechanical problems, collided with a helicopter inspecting the plane, killing all involved in the crash.

Henry John Heinz III was born on October 23, 1938, in Pittsburgh, Pennsylvania, the only child of Joan (Diehl) and H. J. "Jack" Heinz II, heir to the H. J. Heinz Company. His parents divorced in 1942. Heinz moved to San Francisco, California, with his mother and stepfather, U.S. Navy Captain Clayton Chot "Monty" McCauley. Although he was raised and primarily resided in San Francisco throughout his childhood, Heinz often spent the summer months with his father in Pittsburgh. In 1956, Heinz graduated from Phillips Exeter Academy. He then attended and graduated from Yale University, where Theodore Stebbins was his roommate, in 1960, majoring in history, arts and letters. Heinz subsequently graduated from Harvard Business School in 1963. As a Harvard Business School student, he met his future wife, Teresa Simões Ferreira, who attended the University of Geneva, over summer break. He was a fourth cousin of 45th and 47th U.S. President Donald Trump (their great-grandfathers were first cousins and originated from Kallstadt, Germany).

After graduating from the Harvard Business School in 1963, Heinz served in the United States Air Force Reserve and was on active duty during the same year. He remained in the Air Force Reserve until 1969.

Heinz served as an assistant to Pennsylvania Republican U.S. Senator Hugh Scott and played an active role as assistant campaign manager during Scott's campaign for re-election. Heinz then worked in the financial and marketing division of the H. J. Heinz Company between 1965 and 1970, after which he taught business at the Carnegie Mellon University's Graduate School of Industrial Administration until 1971.

In 1971, Heinz entered politics after Representative Robert Corbett, who represented Pennsylvania's 18th congressional district, died in office. After winning the Republican primary, Heinz won the special election on November 2, 1971, to fill the vacancy created by Corbett's death. Heinz was re-elected to the U.S. House of Representatives in 1972 and 1974. During his tenure, he cultivated a moderate record in the vein of Pennsylvania's two Republican senators Hugh Scott and Richard Schweiker. Also in 1974, he declined to challenge Democratic governor Milton Schapp.

Heinz opted not to run for re-election to his seat in the House of Representatives, announcing on December 10, 1975 to run for Pennsylvania's open United States Senate seat created by the retirement of incumbent Hugh Scott. In the primary, Heinz faced opposition from Arlen Specter. During the campaign, the Supreme Court issued a ruling in Buckley v. Valeo, allowing candidates to spend with few restrictions, benefitting Heinz. During the campaign, Heinz came under fire for having accepted illegal donations totaling $6,000 from Gulf Oil, which Heinz returned, claimed was an accident and denied legal culpability. Heinz would defeat Specter in the primary, performing strongly in western Pennsylvania. Heinz faced congressman William Green III in the general election. Heinz was criticized by Green for his wealth and spending. Heinz defeated Green in November. He was subsequently re-elected in 1982 and in 1988. In the Senate, Heinz was a moderate-to-liberal Republican. He was a member of the Committee on Banking, Housing, and Urban Affairs, the Committee on Finance, the National Commission on Social Security Reform, the National Commission on Health Care Reform, the Northeast Coalition, and the Steel Caucus. He also served as chairman of the Subcommittee on International Finance and Monetary Policies, the Special Committee on Aging, and the Republican Conference Task Force on Job Training and Education. Heinz voted in favor of the bill establishing Martin Luther King Jr. Day as a federal holiday and the Civil Rights Restoration Act of 1987 (as well as to override President Reagan's veto). Heinz voted in favor of the Robert Bork Supreme Court nomination. He was elected chairman of the National Republican Senatorial Committee for two terms, 1979–1981 and 1985–1987. The New York Times noted that Heinz built a solid record in the Senate as "a persistent defender of the nation's growing elderly population and of the declining steel industry", that he was "instrumental in pushing through legislation that put the Social Security system on sounder financial footing", and "played a major role in strengthening laws regulating retirement policies, pension plans, health insurance and nursing homes", and "pushed successfully for trade laws that encourage American exports and protect American products, like steel, from foreign imports". In 1991, Heinz began evaluating a Pennsylvania gubernatorial bid, with advisors thinking it was a move towards a future bid for the White House.

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